Who is the bailor in a bailment agreement?

In a bailment agreement, the bailor is indeed the party who gives up possession of the property without transferring ownership. This means that the bailor entrusts their property to another party, known as the bailee, for a specified purpose, with the understanding that the property will be returned to the bailor after that purpose is fulfilled.

Understanding the role of the bailor is crucial in the context of bailment agreements, as it highlights the distinction between possession and ownership. The bailor retains ownership rights to the property but temporarily transfers possession to the bailee for purposes such as storage, repair, or transportation. This relationship creates certain legal obligations for the bailee regarding the care and return of the property.

The other roles mentioned in the options represent different aspects of a bailment agreement, but they do not define the bailor's function. The bailee, for instance, is the one who receives possession and is responsible for managing the property during the bailment period. Therefore, identifying the bailor as the party who relinquishes possession clarifies the dynamics of the agreement and the responsibilities involved.